Voleon Capital Management LP Invests $1.73 Million in Fortive Co. (NYSE:FTV)

Voleon Capital Management LP bought a new stake in Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,074 shares of the technology company's stock, valued at approximately $1,731,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors LLC acquired a new position in Fortive during the third quarter worth about $12,031,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Fortive during the 3rd quarter worth approximately $456,000. Tidal Investments LLC grew its position in shares of Fortive by 5.3% in the third quarter. Tidal Investments LLC now owns 16,513 shares of the technology company's stock valued at $1,303,000 after purchasing an additional 829 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in Fortive during the third quarter worth approximately $854,000. Finally, Principal Financial Group Inc. boosted its stake in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after buying an additional 10,795 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FTV. Citigroup cut their target price on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Barclays dropped their price target on shares of Fortive from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. BNP Paribas lowered shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target on the stock. in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada raised their target price on Fortive from $68.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $80.83.

Fortive Trading Up 1.2 %

NYSE:FTV traded up $0.81 on Friday, reaching $67.59. 5,613,591 shares of the company's stock were exchanged, compared to its average volume of 2,408,498. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. Fortive Co. has a 52-week low of $60.39 and a 52-week high of $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $71.11 and a 200-day moving average of $75.19.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. As a group, analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 annualized dividend and a yield of 0.47%. Fortive's payout ratio is 14.04%.

Insiders Place Their Bets

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. This trade represents a 21.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is owned by company insiders.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.